Rule One of Business: Get Paid
Being paid, just as you would understand is essentially crucial in your business because if you are not paid, what are you doing in business?
You might be astounded at the number of business people who let their customers to pay them when and if they get on with it. I know of one businessman who continuously holds bad debts like accolades. For what reason? Just because he cannot bring himself to demand the money and allows people to intimidate him.
If you give someone credit, do it only after they cleared their integrity to you by paying cash on delivery (COD) for some period of time. Moreover, you should gauge whether they have the funds to pay you - if not then do not do business with them. Don’t kid yourself into the pattern of “I need the work” or “I need the sales”. It’s pointless to do the service or providing the goods for free if you aren’t paid.
If you are the kind of person who can’t demand the cash when the work has been finished, try these ideas:
Tell your customer that when the job is done with, you will require cash or cheque. They should be likely to have it ready at the point of sale and you do not have to ask for your payment.
When giving out a quote, make sure your payment terms are visible.
Complete an invoice that has your terms of payment simply stated and send the client the invoice when the task is done. They can review the invoice and reactively realise they have to pay the fee now without you going to say a word. Make up a “cruel boss” who may torture you alive if you do not bring back the money for the job.
Organise your bank to hook you up with Merchant facilities so you can have credit cards including Mastercard and Visa. The majority of people use credit cards and it can stop the difficulty of the customer not operating a cheque book or not having the right cash in their pocket.
Likewise, don’t be persuaded against to hold the goods until you have been paid. Remember, until the goods are paid for, the goods remain to be yours.
If you decide to allow someone credit, make sure you take the following information off them at a point BEFORE you allow them credit.
- Name
- Address
- Phone number
- Bank name and address
- Account no.
- 3 trade references with their names, addresses and phone numbers
When you take all this detail, contact the bank branch and make for certain that they operate an account there. Then, telephone all of the trade reference and inquire if they pay their fees consistently or if there are any problems with them.
Most people will be willing to tell you if the person is troublesome. If everything is OK, allow them a moderate level of debt, say no more than $500 (depending on your business). Monitor the operation of the account for a few months before allowing this amount to be exceeded.
If you’re looking for a Brisbane web design company or Brisbane SEO company, talk to Search Tempo. Check out their SEO prices today.


































